Coinbase expands USDC borrowing to UK, allowing loans against bitcoin, ether
The Block
Coinbase has launched a crypto-backed lending service in the UK, enabling users to borrow USDC against bitcoin and ethereum assets.Summary
Coinbase has extended its crypto-backed lending service to the United Kingdom, allowing users to borrow up to $5 million in USDC using bitcoin, ether, or cbETH as collateral. The service operates on the Base blockchain through Morpho smart contracts, providing near-instant liquidity that can be converted to British pounds. Unlike traditional loans, there is no fixed repayment schedule, though positions are subject to liquidation if the collateral value drops relative to the loan balance. This expansion builds on the successful U.S. launch of the product, which has facilitated over $2.17 billion in loan originations since its inception.
(Source：The Block)